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What's gonna happen when the Bitcoin bubble pops? Like could it wreck the economy?
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May 1, 2021 06:46
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So the BTC bubble popping shouldn't be too big of a deal for real finance but there's still the possibility because its gotten its hooks into the real world. Well that makes sense for hellworld 
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May 1, 2021 18:55
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Stealthgerbil posted:Get ready for a run on hard drives and high end SSDs thanks to Chia coin. Chia was made by the dude who invented bit torrent and it uses a different consensus and farming method which they say is more green but we all know that's not true. If you give a person a 40amp breaker they will max it no matter what. Its like instead of brute forcing hashes every single time to crack the next block, you plot out your hashes using high end NVMe SSDs onto hard drives that sit mostly idle and then each block everyone presents their already made hashes and whoever matches gets the reward. A sata hard drive uses like 5-8w of power instead of like 300w for a video card. Its a cool concept but you know what is even cooler? Sending an ACH transfer. I'm so tired of these people.
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May 2, 2021 04:38
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it didn't occur to me that art thieves could get any lower
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May 3, 2021 13:35
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Crypto poo poo is stuffed full of scandals of "crypto bankers" cashing out their buttcoins and stealing money from stupid people. I recall a high profile incident where a Middle Earth themed crypto vault was looted and some fucker with the username "Treebeard" had to apologize and explain to buttcoiners how "Gandalf" had pulled the wool over his eyes, cashed out the buttcoins, and ran away with the investors' money. And because its all unregulated there was no way to punish him for it or even track him down.
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May 4, 2021 18:13
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You're not going to win over anyone in this thread.
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May 5, 2021 06:48
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Bitcoin is still only worth anything when its sold for a national currency. If the dollar or any other currency collapsed tomorrow then Bitcoin would be useless. Like most things its totally reliant on real world money to be worth anything.
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May 6, 2021 13:26
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send me your money and I'll get some bitcoin for you
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May 14, 2021 18:30
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Laopooh posted:I am interested in some doges to use the scant remainder of my bidenbux on. Where should I forward my payment info? Sure thing, I just need your social security number, a copy of your driver's license, and your credit card information as well as the security code on the back the most trusted place to get bitcoin is Coinbase atm. You should be careful though because bitcoin will be taxable income very soon.
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May 14, 2021 18:58
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At this point I don't know what inflation actually is or if its a good or bad thing
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Jun 15, 2021 02:55
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Somfin posted:The trick to understanding it is to think of debts not as "a thing you hold on to" but as "negative money sitting in your bank account." Does devaluing rich folks money help me get a new apartment so I can move out of my parents home again (thanks rona) or fix big gas prices that I can't afford to pay which means I might not be able to drive to an interview? Prices on everything are going up and have completely outpaced me. It seems like playing these games with debt is a bad thing. I can see why deflation doesn't actually help anyone and sometimes nations need to take out loans but if you don't have debt then you don't need to play silly buggers games with debt. The way you explain it makes it seem like its all a big justification for the government taking out massive loans to bomb Afghanistan or something, which is what we really do with it instead of making rich people uncomfortable. Rich people seem pretty happy with this stuff. I'm not trying to be insulting, I just don't understand how this would benefit me at all when I'm poor as hell. Klyith posted:Shorter and sweeter: I gotcha, so inflation is a natural byproduct of an economic system that makes a lot of money. Hence there being more money in circulation because there are more people working who get paid, etc. With Bitcoin Daddy Warbucks also can try to play tax evasion schemes for when he cashes out or when he sends his friends money for them to cash out on I guess.
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Jun 15, 2021 05:33
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